AMZN · 10-Q · 2026Q2 · Full report
Other Income — Equity Valuation Gains
AMAZON COM INC · 2026-07-31 · Importance 90 · Surprise 100 · From source text
Other income, net increased to $53.4 billion in Q2 2026 from $1.1 billion and to $69.1 billion for the six months from $3.9 billion. The 2026 gains primarily reflected observable price increases in Amazon’s nonvoting preferred stock investment in Anthropic and reclassification gains from Anthropic convertible notes converted into preferred stock. These non-operating gains materially exceeded consolidated Q2 operating income of $27.5 billion and six-month operating income of $51.3 billion. The valuation gains also drove a $15.9 billion net discrete tax expense during the six months ended June 30, 2026.
Key facts
- Other income (expense), net was $1.1 billion in Q2 2025 and $53.4 billion in Q2 2026; $3.9 billion and $69.1 billion for the six months ended June 30, 2025 and 2026. source
- The net gain of $53.4 billion in Q2 2026 and $69.1 billion for the six months ended June 30, 2026 is primarily from upward adjustments for observable changes in price relating to our nonvoting preferred stock in Anthropic and the reclassification adjustment for the gains on available-for-sale debt securities from conversions of our Anthropic convertible notes. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | positive | realized | +32.5% | Other income (expense), net was $1.1 billion in Q2 2025 and $53.4 billion in Q2 2026; $3.9 billion and $69.1 billion for the six months… |
| net_income | positive | realized | +26.1% | Other income (expense), net was $1.1 billion in Q2 2025 and $53.4 billion in Q2 2026; $3.9 billion and $69.1 billion for the six months… |